The London stock market stalled on Thursday, bucking an upwards trend across Europe, with investors nervous as Britons vote in a snap general election.

The European Central Bank on Thursday signalled greater confidence in the eurozone economy, as it took what analysts describe as a tentative step towards an exit from its easy-money policy.

S&P Global Ratings on Wednesday cut Qatar's credit rating by one notch to AA- and put it on watch for further downgrades after Gulf Arab states severed ties.

"We believe this will exacerbate Qatar's external vulnerabilities and could put pressure on economic growth and fiscal metrics," the ratings agency said.

The EU unveiled an unprecedented plan for common defense spending on Wednesday to help Europe stand alone as a global military power, while urging the United States under Donald Trump to remain on the world stage.

The pound climbed Wednesday on the eve of the British general election, while European equities dipped ahead of a busy news day that will include an interest rate call in the eurozone and vital testimony from sacked FBI chief James Comey in the United States.

A wave of unauthorized transactions have hit a major Philippine bank, triggering fears of hacking even as company officials said Wednesday it was an internal computer error.

Most European and U.S. stock markets retreated Tuesday, two days before a British general election and an expected rise in U.S. interest rates.

A Saudi-led diplomatic and economic blockade against Qatar may threaten food imports but the tiny emirate still has a lifeline through its gas and oil exports, experts said Tuesday.

The United States approved two large military contracts totalling more than $1.4 billion on Monday after promising Saudi Arabia a huge arms package to counter any threat from Iran.

The International Monetary Fund could sign on to a deal between Greece and its creditors before debt relief measures it demands have been agreed, director Christine Lagarde said Tuesday.